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Somanath Self Help Group
In this Group: Puspalata, Sitaram, Chanda, Khulana, Kamini, Pratima, Tuni, Ahalya, Kuni, Mina
Puspalata is a 47-year-old lady and has five children. She lives in Balipatna village, Odisha, India with her husband and her children. She owns and manages a "Chaat stall" (Indian spicy and sour street food). She roams around the village and in the nearby market place. She is requesting a loan amount of 200,000 INR to buy ingredients like wheat flour, grams, lentils, sauces, spices, vegetables, etc. for making "Chaat". With this investment she will expand her business so that she can generate more income and improve the quality of life for herself and her family. She is requesting within a group of 10 members where all are women and all of them live in the same community. They named their group Somanath Self Help Group, situated in the Khurda district of Odisha, India.

Additional Information

Important note about this loan

Due to Indian government regulations, if you fund this loan, you will not be repaid for at least 3 years. This borrower will likely repay your loan much sooner than that, in which case, the Field Partner may re-loan your funds to help other local borrowers. We want you to be aware of this minimum 3-year waiting period and the associated risks before making a loan to Indian borrowers on Kiva. Learn More >

About People's Forum

People’s Forum is a development organization based in Odisha, India that provides affordable loan products and support services to women. The organization distinguishes itself by reaching out to particularly marginalized groups, including leprosy-affected families, widows, single mothers, and disabled persons. People’s Forum will harness Kiva’s flexible, zero-interest capital to serve even more borrowers in one of the poorest regions of India.

This is a Group Loan

In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.

Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.

About India

  • $2,900
    Average annual income
  • 0
    View loans »
    India Loans Fundraising
  • $4,390,650
    Funds lent in using Kiva
  • 54.1
    India Rupees (INR) = $1 USD
Paying Back

This loan has been fully funded!

A portion of Somanath Self Help Group's $3,700 loan helped a member to pay for purchasing ingredients like wheat flour, grams, lentils, sauces, spices, vegetables, etc. for her food stall.
0% repaid
Repayment Term
43 months (Additional Information)
Repayment Schedule
At end of term
Pre-Disbursed:
Feb 3, 2013
Listed
Feb 26, 2013
Currency Exchange Loss:
Possible